Basic Bitcoin skills

[ReiMomo]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

A good question. I am questioning my self if I have learnt something technical to trade in past 5 years. NO. So, even a layman can trade. But yes, there are two things you can learn. We have trading bots. You can either learn to create a trading bot or learn to set up a trading bot for you. Second, kindly learn to know the trading indications and their meaning and how they would benefit you. Besides these, one main thing you need to have in trading is Patience. Its the main thing to success. Good luck

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[Fatunad]

Nope. You got that wrong. Bitcoin is basic. The only skill you need is to be familiar with these electronic devices (phone, laptop...). And I'm quite sure that you are already familiar with the internet which is why you even found your way to this forum. So, it doesn't require any special skill. Just basic wallet app operation. Be conscious of your mnemonic phrase/private key, don't give or show it to anyone. Good luck on finding more answers!

Here's to be specific:

1. Device usage
2. Basic Transaction between wallets
3. Be aware of malware( Clipboard paste)
4. Knows how to read up or check out current market price.
5. Basic understanding or just simply common sense.

You dont need to go to technical side because it isnt really requiring  that much for you to engage with Bitcoin.

[isaac_clarke22]

~

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3. Be aware of malware( Clipboard paste)
~

For more information about this, I read this thread long time ago by LoyceV about how to lose your Bitcoin with just pressing Ctrl + C and Ctrl + V.
It's gonna really help for many people that are uninformed about it.
How to lose your Bitcoins with CTRL-C CTRL-V

Good thing that my holdings in non-custodial wallet just don't get anywhere except my separate desktop wallet. I don't use it anywhere inside the internet, so no worries for me about that wallet as I don't really open it and it is in separate dedicated rig.

[Ridi]

Basic Bitcoin skills

Leran more as you can about Bitcoin
Ask doubt to experienced people
Don't put all money start with small
Don't panic, be patience

[taufik123]

Basic Bitcoin skills

Leran more as you can about Bitcoin
Ask doubt to experienced people
Don't put all money start with small
Don't panic, be patience

some of what you mention already refers to the understanding of trading. About the basics of bitcoin that must be known is how to manage and get bitcoins so that bitcoins will remain safe.
The use of a personal wallet also needs to be studied, because a personal wallet that is made is very, very important and must be guarded so that it cannot be hacked.

Actually there is a lot to understand, but some basic understanding of bitcoin has already been mentioned by many members here.

[bitzizzix]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

Welcome to this forum where we can learn a lot about bitcoin or crypto in depth, and I think if your goal is just to buy bitcoin in bulk and for the long term you shouldn't be in a hurry to learn technical skills.
And over time you will learn what you need, and what you have to learn is what they are and how they work and buy bitcoins at the right time and store them in very secure wallets and you can use hardware wallets if you plan to do so Buy in bulk, to avoid unwanted items.
And all the suggestions here are good for you and will be your consideration before doing it and also understand the risks well.

[carlfebz2]

Basic Bitcoin skills

Leran more as you can about Bitcoin
Ask doubt to experienced people
Don't put all money start with small
Don't panic, be patience

some of what you mention already refers to the understanding of trading. About the basics of bitcoin that must be known is how to manage and get bitcoins so that bitcoins will remain safe.
The use of a personal wallet also needs to be studied, because a personal wallet that is made is very, very important and must be guarded so that it cannot be hacked.

Actually there is a lot to understand, but some basic understanding of bitcoin has already been mentioned by many members here.

Securing your assets is one of the most important thing when you do step your foot into this market specially on acquiring bitcoin or other coins in the market.Its the basics among the basics and you shouldnt
really neglect it out or else you would really be experiencing some problems.

It is something that people could easily understand and of course you would need to research something for that but having some common sense would really do.

Basic skills do comes from self understanding and of course with real experience and engagement in the market.

[taufik123]

-snip-

Basic skills do comes from self understanding and of course with real experience and engagement in the market.

Self-understanding is more about how to learn something new like Bitcoin or cryptocurrency. If you can understand what the basics are, you can move on to the next step. Engaging in the market will provide a more tangible experience and build a stronger psychology. Cryptocurrency is a modern digital currency platform that uses the latest technology for the future.

[ropyu1978]

basic bitcoin skills, I feel very lucky to have entered this forum, because in this forum I get a lot of new experiences, and I can learn better from everyone in this forum, I have followed the advice of people who is in this forum, I already have the hardware, because I want to save bitcoin for a long time, thanks to everyone in this forum, who has given me very good input..

[LonelyUranus]

Many people are not technical talents. For Bitcoin, our understanding comes from how to trade and how to store it. For me, the technology and development sector is my obstacle, because I can't understand it. To say that simple technical skills may be how to use decentralized exchanges. I regret not having studied science or computer.

[Digitalbitcoin]

For every asset or commodity always everyone thinks about its safety and security, it may rather be any layman or any tech person.

So before getting into bitcoin, spend more time on more research about its basic fundamentals. Such as what is bitcoin? how does it work? what is the security, and asset risks involved?

All things are mentioned very well in whitepapers, But it will require some technical knowledge and lots of self-understandings.

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin.

is showing your interest and curiosity about Bitcoin. By the way, you are at the very right place to understand what bitcoin is because the Bitcointalk forum is that place where "Bitcoin Talks".

And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

My suggestion

Major focus on the security issue, but all it needs principle understandings, which gives more outcomes possibilities of breaching. The second thing to use bitcoins for increasing assets values by implementing in many platforms such as Defi, Yield farm, Liquidity pool, lending, borrowing, and trading etc.

Right now the second layer of blockchain for many other chains including cross-chain networks has created a tremendous wave in the market. So, understanding Bitcoin, Blockchain, and Cryptography in depth will definitely make you richer in the upcoming future for sure.

[Chato1977]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

>>never follow signals ..

>>never listen to news ..

>>never trust anyone about your funds..


study deep.

learn more.

don't rush.

And never seek for too much, just earn small each time and let it go some times.

in short , Buy low Sell high.

[Rajamuda]

The point is that we should not be monotonous in the crypto sphere, broadening our knowledge of crypto especially Bitcoin, is important to explore some paths that promise some high profits, over time by continuing to moving better... gradually will get more skills, in trading, investment, Bitcoin/crypto hunter and many else.

[TheGreatPython]

I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

If what you want to do is just holding, then there isn’t much that is required ,all you have to do is to know your way around the wallets and that does it. Unless you want to be able to predict the prices in future then you can study technical analysis and fundamental analysis. This could be useful if you would like to be able to know the right time to make your investment and went to sell. You just have to understand how the market really works that way you will know when there is greed or fear and went to take actions. Knowing technical analysis will also help you if you decide to go into day trading later on.

[exhort]

Welcome to the forum. Depends what country you're in, but:
1. Do not store your bitcoin on exchanges or webwallets.
2. Do not daytrade.
3. Do not invest in cloudmining (Most are ponzis, fractionally reserve mine, or charge too high fees = you will never ROI).
4. Do not mine until you have done at least 100 hours of research.
5. Do not invest your bitcoins in any investment schemes.

[bpovtmg]

Welcome to the forum. Depends what country you're in, but:
1. Do not store your bitcoin on exchanges or webwallets.
2. Do not daytrade.
3. Do not invest in cloudmining (Most are ponzis, fractionally reserve mine, or charge too high fees = you will never ROI).
4. Do not mine until you have done at least 100 hours of research.
5. Do not invest your bitcoins in any investment schemes.

And don't put more than 10-15 % of your fiat savings into crypto. Crypto is still a highly speculative and volatile asset.

Use dollar-averaging, i.e. you regularly (every day or weekly) buy a certain (small) amount of crypto averaging your costs.

[AmoreJaz]

I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

If what you want to do is just holding, then there isn’t much that is required ,all you have to do is to know your way around the wallets and that does it. Unless you want to be able to predict the prices in future then you can study technical analysis and fundamental analysis. This could be useful if you would like to be able to know the right time to make your investment and went to sell. You just have to understand how the market really works that way you will know when there is greed or fear and went to take actions. Knowing technical analysis will also help you if you decide to go into day trading later on.

if i may add, buying large amount of bitcoin would need how secure is your wallet is. with this situation, don't store your BTC in exchanges (not even in top exchanges), better store it in your own wallet, hardware wallet if possible. there are many tutorials already on how to do it. as the OP said, he had learned a lot from this forum already and adding more knowledge by roaming around here and checking in the beginners & other sections would greatly help in his journey. also, as a beginner, better start understanding the market using bitcoin first. and then other alts can always follow. because things will get complicated once he explores his opportunities in those countless number of alts. so yeah, i can't say you need skills to hold btc for long-term, you just need to know how you can secure your coins and not to be scammed by substandard exchanges.

[Tessnik]

Welcome to the forum. Depends what country you're in, but:
1. Do not store your bitcoin on exchanges or webwallets.
2. Do not daytrade.
3. Do not invest in cloudmining (Most are ponzis, fractionally reserve mine, or charge too high fees = you will never ROI).
4. Do not mine until you have done at least 100 hours of research.
5. Do not invest your bitcoins in any investment schemes.

In addition, don’t invest in any crypto venture you don’t know, especially those activities that are high-risk base. My best advice for the ops is to just buy and hold Bitcoin in a cold wallet and hold for long because as a newbie in crypto you need to take your time to research in other not to lose your money.

[Iranus]

What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

If you don't have enough knowledge then you have to keep various precautions,
1st one is you need "don't talk with any unknown person via social media" most of the extraneous could be an imposter.
If you want to hold a vast amount of bitcoin then 2nd one is you need to buy a hardware wallet, generate seeds and address by using HW wallet and print that on a piece of paper or metal, make some copy, and keep your copy in any fireproof & waterproof locker.

you can use any watch-only wallet and import the btc address as watch-only to make it easy to use. It could be the safest way to hold your coin securely.

[Murtaza345]

First and very important it is only for bitcoin, that hold, because we say hold is gold so  and people who hold bitcoin or any crypto currency, they never lose in cryptocurrency world,and after that you can learn teachnical analysis, because its also very important,and also patience is very important,if you have good patience you will never lose in bitcoin world.